TriumphFX – Stock Indices Update – April, May & June 2021


Previous Analysis… https://analysis.tfxi.com/2021/01/05/stock-indices-update-january-february-march-2021/

ASX 200 (Australian Stock Index – AUS200) – Daily Chart

AUS200 Daily Chart

As suggested in our last indices chart analysis, price has been bullish and has been climbing higher.

AUS200 continues to uptrend and move within a large bullish channel. Price is now also moving within a tighter bullish channel. ASX is above the daily moving averages and the moving averages are bullish and steady, suggesting that the uptrend could continue.

Buying opportunities may exist around the dynamic support of the moving averages, around the bullish channel support areas and around the horizontal levels at 6885, 6500, 6235 and 5765. A bullish move could be rejected or reverse around the channel resistance areas and around the recent highs at 7170.

DAX (German Stock Index – DE30) – Daily Chart

DE30 Daily Chart

Price has been bullish.

DE30 has broken recent highs and is clearly up-trending – price action has been forming higher swing highs and higher swing lows. The moving averages are bullish and steady, suggesting that the upside momentum may continue. The daily RSI is becoming overbought, signalling a potential bearish correction move.

Long opportunities could exist around the diagonal support areas, around the bullish moving averages and around the horizontal levels at 14135, 13730 and 13405.

IBEX 35 (Spanish Stock Index – ES35) – Daily Chart

ES35 Daily Chart

As suggested in our last chart analysis, IBEX has been bullish and has been finding resistance around the bullish channel resistance area.

The ES35 is up-trending within a bullish channel. The moving averages are starting to move sideways and price is finding resistance, suggesting that the uptrend is losing momentum – IBEX could become indecisive.

Trading opportunities may exist around the moving averages, around the support and resistance areas of the bullish channel and around the horizontal levels at 6035, 6320, 7660, 7925, 9140, 9335 and 10065.

STOXX (European Stock Index – EU50) – Daily Chart

EU50 Daily Chart

STOXX has been bullish, as suggested in our last indices analysis.

The EU50 is up-trending – price action has formed a series of higher swing highs and higher swing lows. The daily moving averages are bullish and widening, suggesting that the upside direction may continue. Price is moving within a large bullish channel.

Opportunities to go long could exist around the daily moving averages, around the bullish channel support area and around the horizontal levels at 3865, 3635, 3415 and 3300. A bullish move may find resistance around the channel resistance area.

Nikkei 225 (Japanese Stock Index – JP225) – Daily Chart

JP225 Daily Chart

As suggested in our last chart analysis, price has been bullish and has been moving higher.

JP225 is clearly up-trending. Just like other indices, the Nikkei is moving within a large bullish channel. Recent price action has been indecisive and is ranging between 28420 and 30360. The daily moving averages are bullish and steady, signalling a potential move higher.

Buying opportunities may exist around the dynamic support of the moving averages, around the bullish channel support area and around the horizontal levels at 28420, 27575 and 23925. A bullish move could find resistance around the range resistance area and bullish channel resistance.

FTSE 100 (UK Stock Index – UK100) – Daily Chart

UK100 Daily Chart

Price has been bullish and has been reversing around the shorter-term moving average, as suggested in our last stock indices analysis.

The UK100 is currently up-trending within a bullish channel. The moving averages are bullish and widening, signalling that the uptrend could continue. FTSE has been finding resistance around the recent swing high at 6950, signalling a potential range at 6340-6950.

Long opportunities may exist around the dynamic support of the moving averages, around the bullish channel support area and around the horizontal support levels at 6340, 5535 and 4860. A bullish move could find resistance around the channel resistance area and around the horizontal levels at 6950, 7130 and 7670.

Dow Jones 30 (US Stock Index – US30) – Daily Chart

US30 Daily Chart

As suggested in our last chart analysis, the Dow Jones has been bullish and has been reversing around the shorter-term moving average.

Price is clearly up-trending – the US30 has formed a long series of higher swing highs and higher swing lows. The daily moving averages are bullish and steady, signalling that the upward direction may continue. Price is starting to look a little overbought, suggesting a potential bearish move.

Opportunities to go long could exist around the diagonal support levels, around the bullish moving averages and around the horizontal levels at 30845, 29490, 26370 and 24880.

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